RTW, Inc. 2005 Performance Profit Sharing Plan Description
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Profit Sharing Plans
Summary
RTW, Inc. and its subsidiary offer a 2005 profit sharing plan for all employees, distributing cash bonuses based on the company's year-end pre-tax earnings, excluding investment income. Payments are made as a percentage of salary and are discretionary, with distributions occurring in 2006 after the annual audit. Executive officers may also receive stock options and additional bonuses if the company exceeds its earnings plan, with grants made after the 2005 audit. The plan aims to reward employees for the company's financial performance.
EX-10.6 2 c93685exv10w6.txt DESCRIPTION OF 2005 PROFIT SHARING PLAN EXHIBIT 10.6 2005 PERFORMANCE PROFIT SHARING PLAN Employees of the Company are eligible to receive cash profit sharing based on the 2005 year-end results of RTW, Inc. and its Subsidiary. All employees of the Company are eligible to participate in this program. Under the program, a portion of plan pre-tax earnings and pre-tax earnings in excess of planned results, excluding investment income, are contributed to a general pool and distributed in 2006. Profit sharing amounts will be distributed as a percentage (%) of salary and on a discretionary basis to employees. Any profit sharing plan payment will be made annually after completing the year-end audit. Executive officers, additionally, earn stock options based upon exceeding the company's pre-tax, pre-profit sharing pre-investment income earnings plan for 2005 and are eligible for an additional discretionary bonus. Executives are eligible for a fixed number of options, pro-rated on a sliding scale, in excess of the profit plan, up to a maximum level. Any stock option grant will be made annually after completing the 2005 year-end audit.